A Finance Blog

Net Worth Update – January 2019

You’d never know by looking at my net worth progress, but January was a roller-coaster of a month. I wasn’t sure when and if I’d be receiving a paycheck thanks to a wall. Things turned out well, as I eluded, and I hit a net worth of $100,000!

Liquid Assets

Start

End

$ Change

Cash & Checking

$1,575

$2,025

+$450

Emergency Fund

$5,700

$5,750

+$50

Savings Goals

$775

$775

+$0

Brokerage Accts

$1,200

$1,400

+$200

HSA

$0

$275

+$275

Illiquid Assets

Start

End

$ Change

Savings Bonds

$1,375

$1,375

+$0

Home Equity

$27,825

$28, 375

+$550

401K

$39,525

$45,375

+$5,850

Roth IRA

$23,325

$25,875

+$2,550

Liabilities

Start

End

$ Change

Loans

($4,175)

($4,025)

+$150

Net Worth

$97,125

$107,200

+$10,075

% Change

+10.4%

After a terrible performance in December, it comes as no surprise that the markets rebounded in January. The rebound explains roughly 60% of the increase in my net worth. Another 25% can be explained by my contributions to my 401k, HSA, and Roth IRA. I’m too lazy to figure out where the remaining 15% came from. But I’m happy about that too!

Now that I’m a 6-figure-aire, I’d like to work towards hitting a $100k net worth figure without home equity taken into account.

Spending

Even though I mentioned developing a new budget for 2019 in previous posts, I’ve decided to stick with my 2018 budget with two notable changes:(1) Any left over $$ will roll over into the next month, and(2) Medical expenses will now be budgeted. I am trying to cash flow these expenses and not touch my HSA

Category

Budgeted

Actual

Remaining

(1) Bills & Utilities

$175

$135

$40 left

(2) Food

$300

$166

$134 left

(3) Medical

$-

$79

$79 over

(4) Everything Else

$300

$278

$22 left

Total (1+2+3+4)

$775

$658

$117 left

I would like to note that I have already met my ~$1,500 deductible for the year thanks to patient assistance for one of my medications.

Lessons Learned

One thing I learned from the shutdown is that I really need to build up my emergency fund. I would like to get it up to an even $10,000 but I don’t see that happening anytime soon.